Jersey finance firms asked for views on Fatca

BBC News: Finance companies in Jersey are being asked whether they should share more information about their clients with the UK taxman.

Full story: http://www.bbc.co.uk/news/world-europe-jersey-21614549?

£156m tax avoidance scheme closed by HMRC

Accountancy Live: A massive multi-million pound tax avoidance scheme exploited by wealthy individuals has been closed after HMRC secured a legal victory.

Full story: http://www.accountancylive.com/croner/jsp/Editorial.do?channelId=-601014&contentId=2481881

MP accuses QCs on tax avoidance

Law Society Gazette: MPs have turned their attention to lawyers who advise promoters of tax avoidance schemes. In a report examining marketed tax avoidance schemes, the House of Commons Public Accounts Committee (PAC) identifies ‘leading lawyers’, along with banks and accountancy firms, as supporting and advising on tax avoidance schemes.

Full story: http://www.lawgazette.co.uk/news/mp-accuses-qcs-tax-avoidance?

Tory MP calls for tax on foreign super-rich to ease property gap

Evening Standard: A tax should be levied on international “super-rich” property owners to stop Londoners being “locked out” of the housing market, a Tory MP said today.

Full story: http://www.standard.co.uk/news/politics/tory-mp-calls-for-tax-on-foreign-superrich-to-ease-property-gap-8509937.html

HMRC warns wealthy professionals over tax dodging

CityWire: Wealthy professionals are being warned by HM Revenue and Customs (HMRC) that if they try to dodge their taxes they will be found out and punished.

Full story: http://www.citywire.co.uk/wealth-manager/hmrc-warns-wealthy-professionals-over-tax-dodging/a661144?ref=wealth-manager-all-stories-list

Gérard Depardieu registered as Russian resident amid tax row with France

The Guardian: French actor and acquaintance of President Putin receives papers for flat in Mordovia and announces plans to open restaurant.

Full story: http://www.guardian.co.uk/film/2013/feb/24/gerard-depardieu-russian-resident-france?

David Beckham will face taxmen over Parisian ‘dodge’ claim

Metro: David Beckham may be famous for his swerving free-kicks but he is now is facing an investigation into whether he is swerving taxes following his move to French side Paris Saint-Germain.

Full story: http://metro.co.uk/2013/02/24/david-beckham-will-face-taxmen-over-parisian-dodge-claim-3511882/?

Tax warning over children’s wills

Law Society Gazette: Thousands of parents may need to rewrite their wills to protect their children’s interests because of inheritance law changes introduced in the Finance Bill, the Law Society has warned.

Full story: http://www.lawgazette.co.uk/news/tax-warning-over-children-s-wills

Nick Clegg suggests retirees could defer mansion tax payments

The Independent: Older people affected by the Liberal Democrats’ proposed “mansion tax” could have payments deferred until after death if they are unwilling to pay up during their retirement, Nick Clegg has suggested.

Full story: http://www.independent.co.uk/news/uk/politics/nick-clegg-suggests-retirees-could-defer-mansion-tax-payments-8503896.html

Nick Clegg struggles to drive home ideas for mansion tax in radio phone-in

The Guardian: People who are struggling to pay the mooted mansion tax on Britain's most expensive homes could remortgage their houses to help meet the bill, the Liberal Democrat leader, Nick Clegg, suggested on Wednesday.

Full story: http://www.guardian.co.uk/politics/2013/feb/20/nick-clegg-mansion-tax-radio?

Usain Bolt forces Treasury into U-turn on taxing athletes

STEP Journal: The UK government has after all decided to grant a tax amnesty to non-resident athletes attending the London Grand Prix event this July.

Full story: http://www.stepjournal.org/news/news/main_story/usain_bolt_forces_treasury_int.aspx?link=journalTitle

Virgin Media delays bonuses to avoid top tax rate

The Daily Telegraph:  Virgin Media, the pay-television business being bought by US giant Liberty Global, has invited staff to delay their bonuses so that they can avoid the top rate of tax.

Full story: http://www.telegraph.co.uk/finance/newsbysector/mediatechnologyandtelecoms/9863718/Virgin-Media-delays-bonuses-to-avoid-top-tax-rate.html

Jeremy Hunt: We broke inheritance tax pledge because it wasn't in the Coalition Agreement

The Daily Telegraph: Jeremy Hunt, the Health Secretary, has justified George Osborne’s decision to freeze the inheritance tax threshold until 2019 by saying it was not a Coalition promise.

Full story: http://www.telegraph.co.uk/news/politics/9864224/Jeremy-Hunt-We-broke-inheritance-tax-pledge-because-it-wasnt-in-the-Coalition-Agreement.html

QC convicted of dodging £620,000 tax

The Guardian: Rohan Pershad, barrister specialising in fraud cases, hoarded VAT payments for years after vanishing off Inland Revenue radar.

Full story: http://www.guardian.co.uk/uk/2013/feb/11/qc-convicted-tax-rohan-pershad?

Hill Dickinson opens Monaco base to service yacht team clients

The Lawyer: Hill Dickinson is launching an office in Monte Carlo in a bid to boost its yacht and shipping practices.

Full story: http://www.thelawyer.com/hill-dickinson-opens-monaco-base-to-service-yacht-team-clients/3000575.article

Patrice Motsepe: South African tycoon to donate millions

BBC News: South Africa's richest black man, Patrice Motsepe, has announced he is giving away half his wealth to improve the lives of the poor.

Full story: http://www.bbc.co.uk/news/world-africa-21259399

Taxpayers charged twice in HMRC error

Accountancy Live: Some taxpayers using an online payment service were charged more than once for their tax bill last week due to a systems failure at HM Revenue and Customs.

Full story: http://www.accountancylive.com/croner/jsp/Editorial.do?channelId=-601043&contentId=2451035

Tribunal deals IHT blow to holiday home owners

CityWire: Holiday home owners who let their properties have been delivered a blow from the Upper Tribunal, which has quashed a landmark ruling allowing relief from inheritance tax (IHT).

Full story: http://www.citywire.co.uk/new-model-adviser/tribunal-deals-iht-blow-to-holiday-home-owners/a655737?ref=new-model-adviser-todays-news-list

Lucian Freud’s Corot given to nation in lieu of tax

Evening Standard: Artworks formerly owned by Lucian Freud have been accepted for the nation to settle £2.34 million death duties on his estate.

Full story: http://www.standard.co.uk/news/london/lucian-freuds-corot-given-to-nation-in-lieu-of-tax-8479928.html

Top 14 per cent of taxpayers pay 60 per cent of all tax

The Daily Telegraph:  Britain’s wealthy are expected to pay 60 per cent of the money raised by the Treasury from income tax, even though they account for only 14 per cent of taxpayers, official figures have shown.

Full story: http://www.telegraph.co.uk/finance/personalfinance/9845624/Top-14-per-cent-of-taxpayers-pay-60-per-cent-of-all-tax.html

Rich minority paying 60% of UK's income tax

IFA Online: Britain's highest earners are shouldering an increasing share of the UK's income tax burden, as coalition government policies take more people out of paying the tax, according to figures released by HMRC.

Full story: http://www.ifaonline.co.uk/ifaonline/news/2241095/rich-minority-paying-60-of-uks-income-tax?WT.rss_f=Home&WT.rss_a=Rich+minority+paying+60%25+of+UK%27s+income+tax

France set to unveil revamped 'Super Tax'

LowTax.net: French Finance Minister Pierre Moscovici has recently announced the government's intention to unveil details of its new plans for a tax on the country's top earners, revealing that the new tax will be applied to conjugal or joint household income.

Full story: http://www.lowtax.net/asp/story/front/France_Set_To_Unveil_Revamped_Super_Tax____59570.html

Battle of wills: The legal bills that swallow entire estates

The Daily Telegraph:  More wills are being contested and the average estate has risen from £152,358 to £265,281 in a decade. We explain how to avoid a legal fight.

Full story: http://www.telegraph.co.uk/finance/personalfinance/consumertips/tax/9843270/Battle-of-wills-The-legal-bills-that-swallow-entire-estates.html

Where there's a will… Family feuds lead to 700% increase in High Court disputes in five years

The Independent: The number of family feuds over disputed wills that result in cases before the High Court has risen dramatically as financial pressures and changing relationships drive a boom in legacy litigation.

Full story: http://www.independent.co.uk/news/uk/home-news/where-theresa-will-family-feuds-lead-to-700-increase-in-high-court-disputes-in-five-years-8475962.html